Alaska upstream: 2022 in review

Alaska was able to maintain steady production levels steady. And the future outlook took several steps forward. Two large stories dominated: Pikka Phase 1 was sanctioned in August and a new large discovery was made by Pantheon Resources. Theta West ranked as the fourth largest discovery in the world in 2022. More appraisal and production tests are required before we consider the discovery as commercial. Exploration excitement could continue into 2023 where as many as five exploration adn appraisal wells are planned. We take a look at the key events and trends across exploration, leasing, production and rig activity in this review of the year.